We are definitely enjoying this first trading day of the Pig year. Of course, the word Pig in Chinese is usually associated with prosperity as opposed to our association of greed. But today, we are just enjoying being a pig, in either association. lol Action is pretty broad across the DJIM land and many stocks gained momentum as the index crossed into the green territory. Here are some highlights...
KRSL, we highlighted this one late Friday and suggested a possible gap up today. Well we got a gap up and the stock spent plenty of time above $22 today. That's almost five point play from where we alerted. We aren't being greedy here and sold most of the trading positions and left with a small trading position. If this thing gets further momentum tomorrow, we'll definitely chase it but with a controlled pace. The play as noted was to take advantage of a potential gap we thought we could already see in the $17's Friday being formed....How?...big fat crystal ball!..lol...okay more like a gut of experience. We did give out the same trade in EFUT, FFHL for gap po'!. Sometimes its not the length of stay but what you get of it. If you can get 3-5 pts in 1 day of trading, you're not going to risk it the next day(s).
KBW, we were also surprised by its earning and thought it just seemed to good to be true. This financial company IPO'ed not too long ago and currently have 4 analysts rate it as a hold with low estimate going forward. This in our opinion will sure change as analysts will have to raise their estimate based on its report today. The stock also has a very small float and financial stock in this market cap range always look attractive to us. We are gonna be trading this one higher.
HURC SYNL CGX BW TRT, all these recent earnings play have enjoyed some nice follow through and made new closing highs. FSLR FCN are two more we are trading but have run out of space to discuss lately.
EDU, this familiar one which priced its secondary has broken out today on pretty good volume. We chased some and are keeping a close eye on any further strength. If this wasn't enough, recent Russian DJIM stocks made NCH's VIP MBT and GLDN is right there. This is why we started a hit/hold list so your list starts to resemble ours and we all recycle when the time is right. At this point the lineup at DJIM closely followed is a World Series lineup and there is just no reason to alert/ forum recent DJIM plays like these. Hopefully you've listed them to trade or still have them in your books as holds.
ONXX MFW USAP CSV SNCR, these familiar DJIM stocks all have enjoyed some nice gains and we added appropriately with some of them.
The bottom line is, if any stock did not go up in the DJIM land, then it's really considered as a laggard and we are better off just cutting them lose. Today was not the day to play a 9ema level bounce. When the market is this rosy and most things seem to work, the trading strategy should be focused on "making most bang out of a buck" and we gotta hammer those stocks with the highest momentum. We are looking forward to trading tomorrow. A nice reversal of 35pts on the Nasdaq today and the close over 2500. Now, let's just stick it!